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Stagnation in Russian economy more dangerous than crisis, says minister

September 27, 2013, 15:01 UTC+3
Ulyukayev said recently that Russia had been producing the worst economic indicators since the global financial and economic crisis erupted in 2008
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SOCHI, September 27 (Itar-Tass) - Stagnation in the Russian economy is more dangerous than a crisis, Economic Development Minister Alexei Ulyukayev said on Friday while speaking to reporters on the margins of the Sochi 2013 Investment Forum on the Black Sea coast.

“What I’m actually saying is we’re not on the threshold of a crisis, we are in the phase of stagnation,” he said. “From my angle of view, that’s worse than a crisis because the latter is a situation you can find yourself in and then pull out of it while stagnation is a situation with aftermaths that are difficult to figure out,” Ulyukayev said.

Ulyukayev said recently that Russia had been producing the worst economic indicators since the global financial and economic crisis erupted in 2008.

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